Project Management : The Iron Triangle Of Cost, Time, And Quality

Project success affected by many factors such as communication problems within team members, unclear goals and objectives, unrealistic time, lack of top management support and inappropriate skills, stake holder engagement, risk management, financial estimations. The main source for the reason points to the project management.

The paper rates each of the four phases using the following project management knowledge areas: Scope, Time, Cost, Quality, Human Resource, Communication, Risk, Procurement, and Integration Management. An Excellent (5) rating was provided to the project management areas where the project management team were so successful. A Very Good (4) was given for the areas in which the project management team performed very well. A Good (3) was given for the areas in which the project management team performed well. A Poor (2) was given to the areas which had just applied new procedures. A Very Poor (1) rating was given to the project management areas in which either were not achieved the needed goals or were implemented unsuccessfully. In the fifth phase “Lessons Learned” we have studied the whole project, identified the area of improvements and learned how such adjustments can be used in coming

The paper is divided into three sections, the first of which will establish a timeline of events. This project background will serve as a case study for the analysis in the following section that will be structured such that each of the previously mentioned facets will be independently analyzed and contrasted with project management principles. Finally the paper will conclude with a summary of the analysis and recommendations based on

Performance measurements are used to characterize and define performance in a project. They are used to track and manage progress toward achieving specific project goals. Performance measurements help determine how decision-making processes of a project led to its success or failure, understanding these can help organizations make future improvements. It is a project manager's responsibility to measure performance based on the triple constraints of time, budget, and quality of a project. There are many performance measurements a project manager can use based on the type of project at hand, this paper compares and contrasts the following measurements -

Project management provides reasonable scientific solutions in order to overcome difficulties and achieve success. Each project has a variety of objectives have to achieve, these objectives are vary and can be for organization objectives or for social objectives. However, the project objectives could face some obstacles could be lead to limited success. The attempt to discover the factors of project success and project failure was not easy task for both scholars and expertise. These definitions can provide a close understanding and explanation for these terms. Many project management literatures have variety definitions of project success. (Adinyira, 2012) pointed out that Pinto and Slevin (1988) defined the success as delivering projects on proper time, cost and quality. Others like westerveld, elizabith have different ideas regarding the success that are related to the judge of stakeholders and organizational management. However, nowadays success become more complex issue to determine, it is not only meeting the costs and time it is belonging to the typology and sector of the project

According to Kloppenborg (2015), “Project success is creating deliverables that include all of the agreed-upon features” (p.11). Other measures of success include the customer’s success, the performing organization’s success, the project team’s success, and if the project is completed on time and on budget.

Despite efforts to improve the ways of project management, the success rate has not significantly changed over a period of time. In that case there is a need to understand why projects fail. The underlying reason behind is the tendency of humans to react to a particular situation that would bring an entire shift in the work being carried out.

In many studies and reports, project successes tend to be measured against the prescribed schedule, cost and performance. In reality, project success measurement should be against projects constraints and the operational readiness status of the business environment. The combination of the two will assist in efficiently using the product or service as intended.

Project success is often only measured by the factors of the Iron Triangle and therefore the initial benefits (benefits to the customer, design goals, commercial success and future potential) of the project

When discussing project management you must understand the concept of what a project is. A project is something that is not currently in the organization, whether it is something new or something that will improve an existing thing. An example would be a new software package that will eliminate the hand inventory process or a software that will help improve the already existing software package of keeping inventory. Now, project management is the person who has the necessary skills to complete that project. Projects can be determined a success or failure on how well the project manager did their job. Let’s discuss a few projects and what was done successful and what could have been done a little better.

Through history man has been leading other individuals in order to achieve a target. As Bolles (2002, p. 3) defined, an aim for international market companies is to improve their systems by becoming more competitive in the market. One way to achieve this is through projects that will positively impact the firm. This encourages companies to turn to Project Management to deliver business results (Project Management Institute, 2010, p. 1).Two factors that show whether a project has been successful or not is by being completed within its time restraint and budget. A real life example which proves that point is the Millennium Dome. This building project was on time and to budget (politics.co.uk, 2014). Hence, critically this project was

(2010). Delivering exceptional project results: A practical guide to project selection, scoping, estimation and management. New York, NY: J. Ross Publishing.

From the perspective of project management, and for a project to be deemed successful, the project needs to be completed within the specified time, should stay within the allocated cost and should meet the standard and quality required. There is also recognition that things sometimes do not always work as planned. Uncertainties may occur that bring in a slippage in time or may drive up the cost of the project. These aspects notwithstanding, the final objective is always to get a deliverable that meets acceptable quality standards.

Project Quality management plays an inevitable role in business organizations across the globe. It is very important for the project managers to use practical skills along with technical skills to implement the projects immaculately, proficiently and efficiently. We will be gathering information from project practitioners in the industry, who have got great experience in managing complex projects. The main aim of this project is to interview a project practitioner in two ways: face to face and via email. The main area of concern in this report is to understand the basics of project quality management. Then after particularize the techniques used in companies and industries to accomplish project quality goals. Moreover report

In recent decades, a set of issues have been triggered by the fact concerning how to define project success. Some claim that the traditional views are still suitable to define project success, such as under budget, within schedule and acceptable quality. These traditional criteria are well-known as “Golden Triangle” or “Iron Triangle”, which has been used to assess project success over several decades. However, these criteria have been criticised to be more insufficient and inadequate for modern projects by others. ( Atinkson, 1998; Baccarini, 1999; Baker et al. 1988; De Wit, 1988; Munns and Bjeririmi, 1996) This is largely due to the fact that more elements should be covered in modern